Wednesday, June 7, 2017

Technical Analysis Jun 2017: FIAMMA (6939)


Observation from Chart:-

FIAMMA (6939) forming bolinger band squeeze since 15 June 2016

When will it breakout?

Other indicator:-
MACD trade @ negative region, downtrend sign.
Stochastic %K @ on buy call itinerary.

Immediate support @ RM0.54 level.
Subsequent support @ RM0.50 level.

Immediate resistance @ RM0.62 level.
Subsequent resistance @ RM0.66 level.

Insider keep on disposed the share after the share split & bonus issue.
For more info, pls refer Bursa Malaysia website company announcement.

However, on the other hand, company keep on perform "Share Buy Back" as well.
As per 29 May 2017, Total number of shares purchased and/or held as treasury shares against total number of issued shares of the listed issuer (%) 2.94516%

That might be the reason, why the share price keep on consolidate sideway ?

Let's watch closely.


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